MUFG, State Bank of India Sign Pact to Boost Cross Border Deals

Japan’s Mitsubishi UFJ Financial Group Inc. and State Bank of India formed a partnership to explore merger and acquisition opportunities in the country, a month after the central bank allowed local lenders to finance such deals.

The two banking giants signed an agreement to advance collaboration and strengthen the India–Japan economic corridor, MUFG said in a statement Wednesday. In addition to mergers, the partnership will focus on sectors including aviation and real estate finance.